New month and new record. Inflation in the euro zone reaches a new high in September and reaches 10%, according to preliminary data from the EU statistical agency, Eurostat. In Spain, the provisional figure for September is 9%, one point below the average for the euro zone.
If the main components of inflation in the euro area are analyzed, energy once again registered the highest year-on-year rate in September (40.8%, compared to 38.6% in August), followed by food, alcohol and tobacco (11.8%, compared to 10.6% in August), non-energy industrial goods (5.6%, compared to 5.1% in August) and services (4.3%, compared to 3.8% of August).
Excluding those factors, core inflation rose to a new high of 4.8% – five tenths higher than in August – highlighting how price pressures continue to become more broadly based.
September thus becomes the month with the highest year-on-year inflation, after the increase in prices was 5.1% in January; 5.9% in February; 7.4% in March and April; 8.1% in May; 8.6% in June; 8.9% in July; and 9.1% in August.
This new escalation in inflation is known after the European Central Bank raised interest rates again in September by 0.75 points, after rising half a point at the end of July.
The biggest price rises since the euro was introduced more than two decades ago present ECB officials with a delicate balance: interest must rise enough to bring inflation to its 2% target, but not so much as to stifle the economic boost that may exist amid fears of a Russian power outage this winter.
The three Baltic countries were again the countries with the highest inflation rates in August: Estonia (24.2%), Lithuania (22.5%) and Latvia (22.4%).
The countries with inflation above ten points are: the Netherlands (17.1%), Slovakia (13.6%), Slovenia (10.6%), Greece (12.1%), Belgium (12% ).
Eurostat grants Spain 9.3%, according to the Harmonized CPI, three tenths more than the CPI published by the INE.
Source: elDiario.es – elDiario.es by www.eldiario.es.
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